Housing Trust helps first time buyers with shared ownership
Clare France can”t quite believe that she now owns her own home. The 29 year-old financial operations manager is one of the first buyers to move into the prestigious Crownfields development in Chester.
Clare had almost given up hope of moving out of her parents” home, but found the solution through shared ownership, which helped to boost her buying power and purchase a three-bedroom property with a garden. Chester and District Housing Trust (CDHT) is helping Clare and many others onto the property ladder through shared ownership, open to eligible buyers.
Clare, who was born in Chester and works for Bank of America in the city, reserved her home off-plan in October 2007 after reading about the development in the local press.
Clare said: “The best thing about having my own house is the space. I wish I”d got my own place years ago. I”m on a decent salary but would still struggle to buy my own place outright. The chance to get something like this is amazing. It really does tick every box – it”s brand new, has a great garden and space for my friends to stay. I”d been looking for my own place for about six months, but didn”t find anything quite right. I had to have the right area for a start and somewhere I could stay for a good five years. This is a quiet area and only seven miles from my work with good bus links.”
Affordable home ownership expert HomesHub is marketing the shared ownership properties at Crownfields on behalf of CDHT and provided support and guidance to Clare throughout the application and buying process. Shared ownership is available with many Trust properties, including Crownfields, which is a Taylor Wimpey development.
Shared ownership is part of a government programme that aims to help more than 100,000 households across England into home ownership by 2010. Shared ownership allows the buyer to purchase a share of the property, usually 50 – 75%. A reduced rent is paid on the remaining share and buyers have the opportunity to buy more shares as they can afford them.
Clare bought the house on her own and was able to obtain a 100% mortgage for her 50% share of the property:
“I would not have been able to buy without shared ownership, especially in Chester. I wanted a house rather than an apartment and shared ownership means that I”ve got more space for my money and have the chance to live in a great area.”
Clare has decorated her new home beautifully and has enjoyed choosing furnishings with a contemporary edge:
“It”s going to look amazing, when it”s finished.”
Su Bramley, deputy chief executive of CDHT, said:
“Shared ownership makes it easier to make the move from renting to owning your home. Clare is an example of a hardworking individual who needed some extra help and the Trust was there to get her started. Clare and other Crownfields tenants can choose to buy up to 80% of their homes at a later date, while paying reduced rent on the remaining portion. CDHT offers many properties with a shared ownership arrangement; customers typically purchase a 50-75% share with the option of buying more, in some cases up to 100%, at a later date.”
For more information about Crownfields, call HomesHub: 0845 603 4559
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Caption: Clare France in her new home at Crownfields
Notes to editors for more information and photos please visit: <a href=”http://www.marketingprojects.co.uk/admin/clients/chester-district-housing-trust/articles ”>http://www.marketingprojects.co.uk/admin/clients/chester-district-housing-trust/articles Chester & District Housing Trust (CDHT) was created in November 2000 to acquire the housing stock of Chester District Council and now owns and manages over 6,200 properties in and around Chester, employing 285 staff. The Trust”s homes fall in to six neighbourhoods – Blacon North; Blacon South; Chester City Area; The Rurals; Lache and Handbridge; Upton, Hoole, Newton and Plas Newton. CDHT provides a range of services to tenants and residents in Chester and surrounding areas. These include ChesterCare, a telecare alarm service for CDHT tenants, other association tenants and private customers and the management of the specially designated Community Intervention Budget. This improves facilities and allows changes, which are felt by tenants to be vital to their community. CDHT also manages the housing waiting list and homelessness agency service on behalf of Chester City Council. Current projects for CDHT include the £12million regeneration of the Treborth Road area of Chester, to include 200 new homes for rent, sale and shared ownership, as well as a village green and wildlife habitats. For more details please visit: www.cdht.net Press Contacts: Phil Brotherhood E: phil@marketingprojects.co.uk M: 07884 493370 Jane Harrad-Roberts E: jane@marketingprojects.co.uk M: 07785 395705
T: 01244 330000 W: www.marketingprojects.co.uk also www.ziggurat.co.uk
HomesHub is the government”s HomeBuy agent for Merseyside and, through a range of innovative financial products, opens up choice to people who might otherwise struggle to get a foot on the property ladder. HomesHub is part of PLUS Housing Group. For further information about affordable home ownership across Merseyside, please contact HomesHub on 0845 603 4559 or visit www.homeshub.co.uk
For further information, please contact: Bridget Waters, Communications Officer, PLUS Housing Group on 0151 708 4653 or e-mail bridget.waters@plusgroupltd.org.uk
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